Michael Francis has been named to the newly created post of chief global brand officer at DreamWorks Animation. Francis, the high-profile former chief marketing officer at Target as well as president at J.C. Penney, will be responsible for worldwide branding initiatives, licensing and consumer products, and franchise management. "Michael has spent nearly three decades as a superstar in retail, and his expertise in building franchises is second to none," DreamWorks Animation CEO Jeffrey Katzenberg said in a phone interview.
The former Target chief marketing officer and J.C. Penney president will join Gap on Sept. 17 in an advisory role, Ad Age has learned. According to an executive close to the company, Gap CEO Glenn Murphy recently announced the news to a select group of executives. Mr. Francis will be the company's first marketing creative adviser and is expected to spend two weeks a month in the Gap offices. A Gap spokeswoman declined to comment. Mr. Francis could not immediately be reached for comment.
Dallas Business Journal by , Digital Content Producer View photo gallery (2 photos) Michael Francis Digital Content Producer- Dallas Business Journal Email | Linkedin | Twitter | Google J.C. Penney Co. Inc. J.C. Penney Co. Inc. Latest from The Business Journals J.C. Penney president leavingJ.C. Penney president Michael Francis leaves retailerEx-Target executive Francis leaves J.C. Penney after just nine months as president Follow this company announced Monday that Michael Francis is out as the company's president and that CEO Ron Johnson will assume responsibility for the company's marketing
After only eight months, Michael Francis, one of the key architects of J.C. Penney's high profile turnaround efforts, is leaving the company, effective immediately. In October, the former Target exec became J.C. Penney's president, responsible for merchandising, marketing, planning and allocation, and product development and sourcing. J.C. Penney announced the parting in a three-sentence statement, noting CEO Ron Johnson will assume direct responsibility and oversight of the company's marketing and merchandising functions. Johnson thanked Francis for his "hard work" and wished him well in his "future endeavors."
J.C. Penney lost $163 million in the first quarter. Sales skidded 20 percent; traffic slowed 10 percent; conversion and average customer spending both fell 5 percent. Grim results indeed. But don't expect CEO Ron Johnson, President Michael Francis and the rest of the crew to throw in the towel on their retail revolution plan just yet.